The DeFi Revolution is upon us, at least according to Jim Bianco. For many years, I've looked up to Jim and the work he's been doing at Bianco Research and, in fact, he's the one who first inspired me to rip through hundreds of charts during my live presentations in order to get my points across. It took me about a decade to realize it, but it was him who I got that from.
Fast forward to 2021, and the Macro Technician who I've always admired has turned into one of the leading voices of what's taking place in DeFi, or "Decentralized Finance". Who better to talk to about what's going on than Jim himself? Ethereum, Bitcoin, Dogecoin, Yield Farming, Metamask Wallets, Coinbase....the whole thing.
I've caught myself talking more and more about Cryptocurrencies since last Summer.
And there's a reason for that.
We like buying things that are going up in price, and selling (or not buying) the things going down.
That's really it.
You guys who have been around for a while remember me writing about, commenting and informing readers about Bitcoin back in 2016. I was talking about Crypto trading then even more than I am now. In fact, if you knew me back in 2014, I probably sent you some bitcoin as a gift. I was into doing that sort of thing back then.
BUT, in between 2018 and 2020 there wasn't really much to do in that space, so I stayed quiet and focused my efforts and attention elsewhere, like in Technology and Growth stocks for example.
More recently, we've been pounding the table about Bitcoin since last summer and then Ethereum more so throughout 2021.
On this week's episode of Bearish or Bullish, we talk about Year 2 of Bull Market cycles for stocks. Is this one those? Like 1976, like 1983, like 2004, like 2010?
What about Ethereum continuing to hold its breakout? Why is Ether doing so much better than Bitcoin?
Financials and European stocks breaking out of historic bases?
European Super Leagues? The Knicks don't suck?....what the heck is going on around here?
In a market environment where Financials and Natural Resources have become leadership groups, how do we not have a conversation about Canada? Taking that one step further, we need to talk about how any investor, whether living in Canada or not, can take advantage of a potential structural swing in the trend for Canadian Equities.
The big news to end of the week is Ethereum completing this monster base and breaking out to new all-time highs.
For me, I don't care if we're talking about Crude Oil Futures, Apple or Tesla shares, Treasury Bond ETFs, Gold, Silver, Crypto....
It doesn't matter to me. It's just letters and math. All that other stuff isn't my problem.
The trade has been to be long ETHUSD if we're above those former highs from 2018. It was that simple. The risk was very well-defined and the potential reward was exponentially greater. That's what we look for. And so far, that strategy has worked well for us.
But now, while stocks are on holiday, Ethereum is really making a go of it:
